Ann: Ceasing to be a substantial holder from AMP , page-15

re: Ann: Ceasing to be a substantial holder f... Sorry if numbers were wrong. Haven't followed this closely/long enough to know about the capital raising. Even still if Legume's numbers are right (haven't re-checked) and adding in the dividends, you still get a substantial 30m pa, and the yield is still >8%.

An 8% yield on a company generating significant FCF with robust metrics is IMO cheap, and the overall fundamentals of the business suggest to me that this is performance is sustainable (ie not a cyclical high). In my opinion, the RELATIVE valuation metrics do not warrant current investment purely on the basis that I see superior risk-free returns elsewhere, but on the numbers over the last two years this would be the sort of company I would like to own.